RE:Buzz in the oil and gas sector recently...I Remember how it performed well under the previous administration. It did huh? We are talking the previous US administration since that is the upcoming election right?
From a CVE perspective of when trup took office in Jan of 2017 CVE's share price @ $19.46 CAD
To when trump left office in Jan 0f 2021 CVE's share price @ $7.47 CAD a drop of over 60%
To compare since then CVE closed at $26.78 CAD again of over 250%
Even from when trump took office until now CVE gained over 37% during the current administration.
And that doesn't even count dividends which were not paid during the trump term but are now.
CVE is the beneficiary of the TMX pipeline built under neither administration but as a result of the Biden administration axing of the KXL.
Would CVE have had better pricing on WCS shipped through KXL than TMX? Nope.
More egress sure but to the exact same place...the US of A at the same discounted pricing.
Would KXL have narrowed the gap between WTI and WCS? Nope.
KXL would offer no egress to Asia by Canada and therefore no pricing competiion whatsoever.
TMX does and has.
And yeah I know the US west coast is buying a lot of that oil but at the increased Asian price.
Thanks TMX.
Who is the better administration in the USA for Canadian energyand more importantly CVE?
Check the history. Drill baby drill in the USA is not good for Canadian oil companies.
GLTA
sdhaka wrote: Hey, folks! I have been noticing the buzz in the oil and gas sector recently...
I Remember how it performed well under the previous administration.